Keep an eye on XRP! - May break out soon!

3 ต.ค. 2022

Here's a quick look at the XRP 2 hr. chart. As we can see, the price has been forming a symmetrical triangle and we should keep an eye out for a break above or below the triangle. A break above the triangle will probably push the price higher, and if the price breaks below the triangle, the price will probably go lower.
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The idea is: Buy when the price breaks above 0.475$ and take profits at the levels shown in the chart.

Targets:

1. 0.49$
2. 0.51$
3. 0.54$
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What are triangles when it comes to trading?

Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.

2. Triangles are similar to wedges and pennants and can be either a continuation pattern if validated or a powerful reversal pattern, in the event of failure.

3. three potential triangle variations can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."

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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!